Zacks: Analysts Anticipate Costco Wholesale Co. (NASDAQ:COST) Will Announce Quarterly Sales of $37.44 Billion

Analysts forecast that Costco Wholesale Co. (NASDAQ:COST) will announce $37.44 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Costco Wholesale’s earnings, with estimates ranging from $36.83 billion to $37.95 billion. Costco Wholesale reported sales of $35.07 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.8%. The company is expected to announce its next earnings report on Thursday, December 12th.

According to Zacks, analysts expect that Costco Wholesale will report full-year sales of $162.61 billion for the current fiscal year, with estimates ranging from $160.65 billion to $165.03 billion. For the next fiscal year, analysts anticipate that the business will report sales of $173.15 billion, with estimates ranging from $169.43 billion to $177.29 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Costco Wholesale.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 3rd. The retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.15. The firm had revenue of $47.50 billion during the quarter, compared to analysts’ expectations of $47.71 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.36 EPS.

COST has been the subject of several research reports. Loop Capital raised their price objective on shares of Costco Wholesale to $330.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Barclays set a $275.00 price objective on shares of Costco Wholesale and gave the company a “hold” rating in a research report on Monday, August 12th. BMO Capital Markets raised their price objective on shares of Costco Wholesale from $275.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America lifted their price target on shares of Costco Wholesale from $310.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday. Finally, BidaskClub cut shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $293.13.

Institutional investors have recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC bought a new position in Costco Wholesale during the 2nd quarter worth approximately $26,000. Massey Quick Simon & CO. LLC bought a new position in Costco Wholesale during the 2nd quarter worth approximately $27,000. Thor Advisors LLC bought a new position in Costco Wholesale during the 1st quarter worth approximately $35,000. Princeton Global Asset Management LLC boosted its stake in Costco Wholesale by 88.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock worth $35,000 after acquiring an additional 62 shares during the last quarter. Finally, Enterprise Trust & Investment Co boosted its stake in Costco Wholesale by 171.7% during the 3rd quarter. Enterprise Trust & Investment Co now owns 125 shares of the retailer’s stock worth $36,000 after acquiring an additional 79 shares during the last quarter. 71.08% of the stock is currently owned by institutional investors and hedge funds.

COST traded up $2.67 during midday trading on Monday, hitting $291.67. The company had a trading volume of 4,269,747 shares, compared to its average volume of 2,005,171. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. The company has a market capitalization of $128.27 billion, a PE ratio of 42.70, a P/E/G ratio of 3.68 and a beta of 0.94. Costco Wholesale has a twelve month low of $189.51 and a twelve month high of $307.34. The firm’s 50-day simple moving average is $287.59 and its 200-day simple moving average is $263.95.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, August 29th. Costco Wholesale’s payout ratio is 38.07%.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Earnings History and Estimates for Costco Wholesale (NASDAQ:COST)

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